marketfellow

DJIA 50 DMA Forms Support Level

TVC:DJI   Dow Jones Industrial Average Index
DJIA shows its bullish status in all time frames. Particularly, DJIA is able to rebound on 50 DMA line yesterday with today's gap-up. Thus, bullish bias stays there until broken on 50 DMA. Uptrend channel also describes its strength well. Only concern is that DJIA is tool bullish using distance of 50 and 200 DMA lines as reference.
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